Additional Guidance on Trump’s Payroll Tax Deferral

Additional Guidance on Trump’s Payroll Tax Deferral Program The IRS has released some bad news for anyone who is deferring payroll taxes under President Trump’s executive order… A few weeks ago we detailed the available facts of Trump’s payroll tax executive order. We now have guidance from the IRS and are a few days into the program. If you have decided to opt into deferring payroll taxes for your company, we have some information for you! The Good News and Bad News According to the guidance by the IRS, payroll taxes that have been deferred for the remainder of the year will need to be paid back by April 30th, 2021 to avoid interest, penalties, and additions to tax that … Read More